[Amps] Time to Quit Using PayPal?

[Carl]

Part time homeowner and hobby sellers are exempt from what Ive been told. 
They are going after the high volume strictly commercial sellers....at least 
for now.

Carl
KM1H


----- Original Message ----- 
From: "Randall, Randy" <Randy.Randall at healthall.com>
To: "'Glen Zook'" <gzook at yahoo.com>; "Amplifier Reflector" 
<amps at contesting.com>; "RICHARD SOLOMON" <w1ksz at q.com>
Sent: Monday, May 24, 2010 9:28 AM
Subject: Re: [Amps] Time to Quit Using PayPal?


> Well if I buy something for $1000 and sell it used for $800 the IRS wants 
> a ‎cut for something I lost money on?  This will be an accounting 
> nightmare!!!  ‎You will need to keep receipts on everything you might sell 
> on Ebay to prove ‎you took a loss?  Does that mean that the buyer will 
> have to pay taxes on the ‎purchase also?  Double taxation just like on 
> your used car when you sell it.  ‎The 2nd buyer pays taxes on something 
> that has already been taxed.  When are they going to require a tax on my 
> kids allowance?
>
> Randy AB9GO
>
>
>
>
>
>
> Randy E. Randall
> Network Engineer
> 3200 Burnet Ave
> Mail Stop Room 4610
> Cincinnati, Ohio 45229
> Phone: 513-585-7146
> Fax: 513-585-7159
>
> "In theory, theory and practice are the same thing.  In practice they're 
> not."
>
>
> -----Original Message-----
> From: amps-bounces at contesting.com [mailto:amps-bounces at contesting.com] On 
> Behalf Of Glen Zook
> Sent: Friday, May 21, 2010 9:53 PM
> To: Amplifier Reflector; RICHARD SOLOMON
> Subject: Re: [Amps] Time to Quit Using PayPal?
>
> Unfortunately, the Internal Revenue Service is "cracking down" on people 
> who sell things using eBay and PayPal.  It seems that way too many persons 
> are making profits selling items and not reporting them to the IRS.  It 
> isn't PayPal's idea to get Social Security numbers, it is the United 
> States Government's requirements.  PayPal and eBay are going to have to 
> report sales figures to the government!
>
> Glen, K9STH
>
> Website:  http://k9sth.com
>
>
> --- On Fri, 5/21/10, RICHARD SOLOMON <w1ksz at q.com> wrote:
>
> Let's see ... they (PayPal) have your Name, Address & Phone Number. If you 
> link your account to a Bank Account, they have a routing number. Now they 
> want your SSN !!!
>
> As a philosophical old drunk once told me ..."Trust Me" ...
>
>
>
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